Farmers Hoping To See Bill C208 Pass Through The Senate

Jun 22, 2021

The Agricultural Producers Association of Saskatchewan is calling on the Senate to support Bill C-208.

Bill C-208 is a Private Members Bill that was brought forward by Manitoba MP Larry Maguire.

The Bill would amend the Income Tax Act regarding the transfer of small business, or family farm, or fishing corporations.

APAS President Todd Lewis says the bill addresses the inequity between farm transfers of family members and non-family members.

"The way it sits right now, if I sell my farm to my daughter, it's taxed differently than it is if I sell it to a stranger. So it's something that's been an inequity, that's been in place for decades. And you know, we're looking forward to seeing the bill passed, and levelling the playing field between buyers."

He notes the number of producers nearing retirement is increasing, and many of these family farms want to transfer their assets to a family member to maintain the farm as a family operation.

"In the province here now we're into fifth and sixth generation farms and well established. Farming is, you know, it's something that is part of many, many of our Saskatchewan families, and we'd sure like to see that continue."

Farmers are hoping to see Bill C-208 pass through the Senate before they break for the summer.

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